Forex Trading: AUD/USD Breaks Through Trendline Resistance Today

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Forex Trading: AUD/USD Breaks Through Trendline Resistance Today

By Greg Michalowski on March 19, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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AUD/USD breaks the 100 day MA and benefits from higher commodity prices. A global rebound, especially one that gets China involved, will be a benefit to the AUD/USD. China is dependent on US demand and the actions by the Fed which should lead to a surge in refinancing and hopefully a Spring rebound in home purchases, will lead to a rebound in spending by consumers. Australia’s funneling of raw materials to China should therefore benefit.

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